If you don't like the Newsstand app in iOS 5 and want to hide it, you'll realise you can't just put it into a folder like a normal app. With a bit of quick swiping, though, you can.
I usually put a folder on the last screen of my iPad with all the apps I don't use in it — like Safari, Videos, Game Center and so on. I'd throw Newsstand in there too, but it doesn't work like a normal app, and won't let you put it in a folder. Luckily, you can still hide it away with a little trick, as long as you don't want to actually use the app.
Just drag two apps together to create a folder, and as soon as the folder pops up, drag Newsstand into it. It may take one or two tries before you get it, but it'll work. Once Newsstand shows up in the folder, you can continue cultivating the folder as you see fit. Don't try to run Newsstand while it's in the folder, though, as it'll crash iOS' home screen, which isn't fun. Why Apple would force you to keep Newsstand on the home screen is beyond me (though it's still beyond me that they won't let you remove pre-installed apps), but at least this trick can get some of us by. Hit the link to read more.
HOW TO: Put Newsstand In A Folder On iOS 5 [Without Jailbreaking] [The Coding Massacre via TUAW]